Fear Based Motivation and your buyers
Motivate Your Buyer by Conquering Their Fears.
In the third installment of the Napoleon Hill blog posts, we are going to take a deeper look into your buyer’s fear based motivation. Although Hill put fear towards the end of his list, many current psychologists claim that fear is the number one motivator in humans.
Fear takes many forms. It can make people do many things that they may not typically do. In some cases, this motive goes hand-in-hand with self-preservation. For many perspective buyers, fear may mean that something big or important is about to happen within their business. They may not realize that they must be ready to embrace growth and be willing to fail to succeed. This is where your sales pitch comes in. You must convince them that the alternative makes it all worth it. Convince them that your product or service is the golden ticket to success.#Fear of failure or loss may be deterring your potential buyer #sales #marketing Click To Tweet
Entrepreneurs and small business owners are by definition risk takers. Still, humans are prone to fear. People often fear loss and failure to the highest extent. These are usually comprised of smaller fears like taking risks, feeling vulnerable, having power, or leading others.
Fear based motivation can take on many forms. Small business owners could have many things of which they are fearful. They may fear losing a business that they have invested years of time and effort into. They may fear not having a return on investment (ROI). Or, fear going bankrupt. The list can go on and on.
Entrepreneur Magazine encourages people to continue in the face of loss, because “if you quit before you earn a profit, you’ll never earn a profit”. As obvious as it may seem, you must convince your buyer to keep pushing through loss or their fear of losing. Ask yourself, what does your product or service offer your buyer that can lead to increased sales for their business? How long until they will see a profit or ROI? Sell this.
People fear loss of their possessions; homes, cars, boats, etc. As materialistic as it may seem, people work hard for their stuff and this fear based motivation is extremely prevalent. Risk of losing one’s possessions is what keeps many people at their dead end jobs or playing it safe with future business ventures. To sell to this buyer, explain to them why your product or service is a calculated risk for them. What data is there? What are the numbers to support those facts?
Fear of failure is one of the top fears in all human beings. It is before spiders, heights, snakes, and sharks. Being seen by yourself and your loved ones as a failure keeps many people from following their dreams. The more people someone has depending on them, the more they fear failing.
It is important for entrepreneurs and small business owners to understand that these kinds of risks are all part of the long game. Things will almost inevitably go wrong in life and in business. There will be failures of different magnitudes. But each time you are able to pick yourself up, there is a lesson to be found that will strengthen your business through wisdom and knowledge. To utilize this fear based motivation to sell to this buyer, convince them that the product you are offering substantially decreases their chances of failing again.Recognize your buyers #fears and use them to create your #sales pitch! #SmallBusiness Click To Tweet
Have you heard: “Don’t let the fear of failure keep you from playing the game.” There is a reason there are so many clichés about persevering through difficult times. Success is the ultimate goal of every small business owner and entrepreneur, but the odds are not necessarily in their favor. The task any salesperson is faced with when their buyer is looking fear in the face is to tailor their sales pitch. Prove to this buyer that your product or service decreases the risk of failure or loss.
Have you implemented anything at your company aimed at conquering the fears your clients face in their business? We’d love to hear about it so please leave a comment below!
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About Our Guest Author!
Halley Barnes is a graduate student at Rutgers University in the field of Communication. She recently graduated from Rutgers University with a bachelor’s degree in Communication with a specialization in Public Relations and a dual minor in Digital Communication, Media, and Information and Psychology. She spent four years as a member of the division one Rutgers Women’s Lacrosse team where she served as the captain of the team her senior year. She was also named a member of the Big East All Academic team her freshman and sophomore years, and a member of the Big Ten All Academic team her junior and senior year. As an undergraduate student she made Dean’s List all eight semesters and was the keynote speaker at the 2015 Rutgers Alumni Leadership Conference. She was also inducted into various honor societies including Chi Alpha Sigma, National Society of Leadership and Success, and the National Society of Collegiate Scholars. Halley loves traveling, trying new food, going hiking and kayaking, and spending time with her family.